Molecular Templates Inc (MTEM) received a Buy rating and a $15 price target from Ladenburg analyst Kevin Degeeter today. The company’s shares opened today at $4.40, close to its 52-week low of $3.87.
Degeeter commented:
“Initiating coverage with Outperform rating and $15 PT. We believe Bodies (ETB) platform offers a differentiated MOA based on forced internalization of antibody fragments directly to ribosomes through the Shiga-Like toxin A mechanism of action resulting in disruption of protein synthesis and direct cell-kill. We expect this novel MOA to offer clinical advantages in: 1) monotherapy in refractory setting when receptor expression is maintained despite resistance to prior treatments targeting the receptor (i.e., 2) combination therapy for frontline as a more potent substitute for a antibody therapeutics, and 3) novel targets not amenable to antibodies due to challenges to internalization. We anticipate ETBs will be attractive to pharma and expect partnerships to contribute to 2019-20 news flow.”
According to TipRanks.com, Degeeter is ranked #405 out of 5108 analysts.
Molecular Templates Inc has an analyst consensus of Moderate Buy, with a price target consensus of $16.50.
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The company has a one-year high of $13.25 and a one-year low of $3.87. Currently, Molecular Templates Inc has an average volume of 317.7K.
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Molecular Templates, Inc. is a clinical stage biopharmaceutical company, which engages in the discovery, development, and commercialization of therapeutics for the treatment of cancers and other serious diseases. The company was founded on August 1, 2017 and is headquartered in Austin, TX.
